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GDP in Canada up 4.5% in May

Christian Fernsby |
Real gross domestic product (GDP) in Canada grew 4.5% in May, following two months of unprecedented declines when emergency measures to slow the spread of coronavirus resulted in widespread shutdowns.

In May, provinces and territories started reopening sectors of their economies to varying degrees.

While May's gains offset some of the March and April declines, economic activity remained 15% below February's pre-pandemic level.

Both goods-producing (+8.0%) and services-producing industries (+3.4%) were up, as 17 of 20 industrial sectors posted increases in May.

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